Virtus Investment Partners Inc. (NASDAW: VRTS), an operator of a multi-boutique asset management business, has acquired Stone Harbor Investment Partners, a manager of emerging markets debt, multi-asset credit, global corporates and other strategies with $14.5 billion in assets under management.
The deal is intended to enhance and diversify the investment capabilities available via Virtus’ multi-boutique model. Stone Harbor will also increase the firm’s institutional client base, global distribution and a proprietary operating and analytical platform.
Following the combination, Stone Harbor will maintain autonomy over its investment process, brand and culture in order to ensure continuity for its client base.
“Stone Harbor offers clients a highly regarded emerging markets debt strategy that has a 30-year track record,” said George Aylward, president and chief executive officer of Virtus. “Their institutional-quality emerging markets debt capabilities, under the leadership of Peter Wilby, managing partner and co-CIO and Jim Craige, co-CIO and head of emerging markets, are well-respected among clients and consultants and highly complementary to our other fixed-income capabilities.”